40 Prospect St · Windsor Locks, CT 06095

$440,000

4 bd · 2.0 ba · 2,287 sqft · MultiFamily public records · 12 Days on market

Built 1875 0.31 ac lot

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +22.0/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +5.5/10.0
• Livability +3.7/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

2 Family home with very large rooms/corner lot may offer potential for additional parking/perfect for owner-occupant prof./Property is being sold in as is condition. No show prior to wed 12/12/01

Key facts

• Just been renovated
• Private driveway
• New carpet

Tags

• PRIVATE DRIVEWAY
• CORNER LOT
• SIDE LAWN AREA
• JUST BEEN RENOVATED
• NEW CARPET
• NEW FLOORING

Property features AI

Finance

• Other: Listed as Multi-Family For Sale
• Financial info: Assessed value information present but omitted
• HOA & community: No HOA information provided

Exterior

• Parking: Parking details not provided
• Security: No security features provided
• Utilities: Public water connected; Public sewer connected; Natural gas service
• Home design: Multi-family property (2-family)
• Construction: Brick construction; Brick foundation; Asphalt shingle roof; Brick exterior color
• Exterior features: Corner, level lot; Sidewalk; Front porch; Gutters; Brick exterior

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: 6 bedrooms
• Flooring: Basement has concrete and dirt floor areas
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heat; Baseboard heating; Attic fan
• Interior features: 12 total rooms; Full, unfinished basement with interior access; Shared basement area; Concrete and dirt floor portions in basement; Attic fan for cooling; Thermopane windows
• Laundry & utility: Basement laundry with washer and dryer (seller to provide); Basement hook-ups and common laundry area; Tankless hot water (natural gas)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $440k.

Deal economics

• At list price, monthly cash flow is $701 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $440k).
• Cap rate 8.2% vs local median 3.9% in Windsor Locks — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 74/100 on livability (#65 in CT, #4,599 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Windsor School District (suburban): math 29% / reading 41% proficiency, ranked #107 of 153 in CT (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Oliver Ellsworth School (431 students, 41% FRL); Sage Park Middle School (math 29% / reading 40%, grade F, #124 of 175 statewide, top 72%, 698 students, 44% FRL); Windsor High School (math 26% / reading 55%, grade F, #104 of 194 statewide, top 54%, 1,100 students, 39% FRL).
• Market conditions: 104 active listings in the ZIP; solid renter incomes; 1,867 units permitted in Capitol Planning Region in 2024 (1,399 in 5+ unit buildings).
• At $4,617/mo this rent would consume 53% of the median local household income ($105k/yr) (locally 555% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 25y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $143k; list at $440k implies a 208% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1875 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $440,000

Questions for the listing agent

1. Built in 1875 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
4. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
5. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.05% ✓
• Cap rate: 8.20%
• Cash-on-cash: 6.82%
• DSCR: 1.30
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.8%
• Equity multiple: 0.78×
• Total profit: $-26,670
• Equity at exit: $65,605

10-year hold

• IRR: 3.8%
• Equity multiple: 1.28×
• Total profit: $34,276
• Equity at exit: $38,043

Cash invested: $123,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 27 Tenant-Leaning
• State Connecticut: 27 Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Strong tenant statutes; rent commissions in some towns; courts slow especially in cities.

Methodology + full state rankings →

ZIP-level market 06095

• Home prices YoY: -33.0%
• Active inventory: 104
• Price-to-rent: 17.5×

Monthly cashflow live

• Estimated rent: $4,617 medium
• Mortgage (P&I): −$2,307
• Tax from tax record: −$456 /mo · $5,474/yr
• Insurance: −$183
• HOA: −$0
• Vacancy / Maint / Mgmt: −$970
• Net cashflow: $701

Break-even live

Break-even rent $3,730

Max offer price $440,000

Occupancy floor 80%

Sensitivity live

Price	-10% $950	-5% $825	+0% $701	+5% $576	+10% $451
Rent	-10% $336	-5% $518	+0% $701	+5% $883	+10% $1,065
Rate	-1.0pp $922	-0.5pp $812	base $701	+0.5pp $587	+1.0pp $471

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	1	$2,094
1× unit	4	1	$2,523
Total (2 units)			$4,617

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $110,000
• Closing costs: $13,200
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-12
   listed $440,000 Active 821-char remark
2. 2013-06-14
   historical
3. 2013-06-10
   listed $269,900
4. 2002-01-29
   soldstatus $143,000
5. 2002-01-28
   soldstatus $143,000

   Show marketing remark (195 chars)

   2 Family home with very large rooms/corner lot may offer potential for additional parking/perfect for owner-occupant prof./Property is being sold in as is condition. No show prior to wed 12/12/01

6. 2001-12-10
   listed $142,900

   Show marketing remark (195 chars)

   2 Family home with very large rooms/corner lot may offer potential for additional parking/perfect for owner-occupant prof./Property is being sold in as is condition. No show prior to wed 12/12/01

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CT · Partial reset (capped growth)

• Current annual tax: $5,474 · $456/mo
• Projected year-2 tax: $7,445 · $620/mo
• Expected delta: +$1,971/yr (+$164/mo · 36.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $55,404
• − Mortgage interest: −$24,647
• − Property taxes: −$5,474
• − Insurance: −$2,200
• − Repairs & maintenance: −$4,432
• − Management: −$4,432
• − Depreciation: −$12,800
• Taxable income: $1,419
• Est. tax owed @ 24.0%: −$340
• After-tax cash flow: $8,066/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Windsor School District
• NCES district ID: 0905220
• Math proficiency: 29% ▼ -12.00%
• Reading proficiency: 41% ▼ -6.00%
• Median HH income: $80,578
• Composite: 33.23/100
• National rank: #5521
• State rank: #107 of 153 in CT

Livability — Windsor Locks

• Score: 74/100
• State rank: #65
• US rank: #4599

Category grades

Amenities F Commute F Cost of living B- Crime A+ Employment B- Housing A+ Health & safety A+ User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Hartford County · 754,208 people
• City population: 12,579
• Metro: Hartford-East Hartford-Middletown, CT
• Population (ZIP): 29,670
• Household income: $105,322
• Rent vs Own: 18.0% rent · 82.0% own
• Severe rent burden: 555.0

Population outlook (Capitol County) Hauer SSP2

• By 2040: 1,063,519

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 45% Black 34% Hispanic / Latino 10% Two or more races 9% Asian 4%
• Hispanic origin (detail): Puerto Rican 6%
• Common ancestry: Lithuanian 6% Romanian 4% Iranian 1%
• Foreign-born: 16% · Canada, China
• Languages at home: 86% English-only · Spanish 5% Other Indo-European 2% Other Asian/Pacific 1%

Political lean MEDSL · Capitol

• 2024 margin: Strong D (+21.9) · D 60.1% · R 38.2% · Other 1.7%
• All cycles: 2024: D+21.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -123.46%
• Current HPI: 251.2426
• Rent YoY: —
• Metro: Hartford-East Hartford-Middletown, CT
• State GDP YoY: ▲ 1.06%
• F500 in state: 38

Industry mix (Fortune 500 HQ in CT)

Industry	F500 HQs	Revenue
▸Industrial Machinery	4	$38B
▸Insurance	3	$71B
▸Financial Services	2	$25B
▸Transportation / Logistics	2	$18B
▸Healthcare	1	$247B
▸Telecommunications	1	$55B

Price history

+207.9% since first listed

7 events — show timeline

• 2026-05-24 Pending — Smart MLS
• 2026-05-12 Listed $440,000 Smart MLS
• 2013-06-14 Listing Removed — Smart MLS
• 2013-06-10 Listed $269,900 Smart MLS
• 2002-01-29 Sold (Public Records) $143,000 Public Records
• 2002-01-28 Sold (MLS) $143,000 Smart MLS
• 2001-12-10 Listed $142,900 Smart MLS

Property tax history

+2.4%/yr

Latest (2025): $5,474 · -6.7% YoY. Source: county tax records.